Let's say you have a balance of $1000 and want to trade on Binance using the candlestick strategy. Here's how to invest this amount cautiously:
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Capital Management Plan
1. Determine the risk ratio:
Do not risk more than 2-5% of your capital on each trade ($20-$50).
Set stop loss orders to avoid big losses.
2. Choose the right pairs:
Choose trading pairs with high liquidity, such as:
BTC/USDT
ETH/USDT
BNB/USDT
3. Use leverage cautiously:
If you use leverage trading, keep it low (1x-5x) to reduce your risk.
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Candlestick Trading Strategy
1. Initial settings:
Select a short time frame (1 minute or 5 minutes).
Use analysis tools such as:
Support and resistance lines.
RSI or MACD indicators.
2. Trading based on patterns:
Hammer pattern: Buy entry when formed in a support area.
Shooting Star pattern: Sell entry when formed in a resistance area.
3. Entry and exit timing:
Enter the market after confirming the pattern.
Place Take Profit and Stop Loss orders.
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A practical example of a trade (using $1000):
Choose a BTC/USDT trading pair.
You decide to risk $30 (3% of your capital).
Using 5x leverage, you can open a trade worth $150.
If the market moves 1% in your favor, you will make a profit of $1.5 for every $1 risk = $7.5.
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Additional tips
Trade only during active market times (such as when the US markets open).
Do not enter the market under the influence of emotions or without a clear plan.
Monitor news and reports that affect cryptocurrencies.
Note: Trading involves high risk. Only invest what you can afford to lose.
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